Montana Community Development Corporation
Montana Community Development Corporation
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About this organization
Mission
MoFi provides financing and consulting services to transform lives and communities.
About
MOFI PROVIDES DIRECT LOANS AND RELATED CONSULTING SERVICES TO BORROWERS AND LOAN APPLICANTS. MOFI'S BUSINESS LOANS SERVE ENTREPRENEURS WHO ARE UNABLE TO QUALIFY FOR TRADITIONAL BANK FINANCING. MOFI'S BORROWERS ALSO RECEIVE FREE, COMPREHENSIVE CONSULTING SERVICES DESIGNED TO HELP THEM BUILD SKILLS IN THE AREAS OF MONEY, MARKETING AND MANAGEMENT. LOAN CLIENTS RECEIVE ASSISTANCE TAILORED TO THEIR UNIQUE NEEDS, WITH THE GOAL OF PROVIDING THEM THE TOOLS AND GUIDANCE TO INCREASE THE SPEED AT WHICH THEY CAN ENTER THE FINANCIAL MAINSTREAM. THIS PROGRAM IS FUNDED BY GRANTS AND LOAN EARNINGS.MOFI'S PROGRAMS ARE FUNDED BY A VARIETY OF SOURCES, BOTH FEDERAL AND LOCAL, PUBLIC AND PRIVATE. IN 1996, MOFI OBTAINED CERTIFICATION FROM THE UNITED STATES DEPARTMENT OF TREASURY ("U.S. TREASURY") AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI"), ENABLING IT TO ACCESS LOANS AND GRANTS FROM THE U.S. TREASURY. THESE FUNDS, ALONG WITH FUNDING FROM THE UNITED STATES SMALL BUSINESS ADMINISTRATION ("SBA"), UNITED STATES DEPARTMENT OF AGRICULTURE, UNITED STATES DEPARTMENT OF COMMERCE, UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES, FINANCIAL INSTITUTIONS, LOCAL AND STATE GOVERNMENTS, AND PRIVATE ORGANIZATIONS ARE USED FOR LOANS TO SMALL BUSINESSES. BUSINESS CONSULTING SERVICES ARE FUNDED BY GRANTS AND LOAN EARNINGS.
Interesting data from their 2019 990 filing
According to the filing documents, the non-profit's mission is defined as “Mcdc partners with people and communities that want to prosper, providing innovative financing and business development products that create income opportunities for all members of our community. our role is to foster a resilient economy that is built on the inherent strengths of the people and the place where we live. since 1989, montana cdc has served hundreds of entrepreneurs with loans, consulting and training. the businesses our clients create help sustain their local communities and provide jobs in montana and idaho. in addition to our consulting and revolving loan fund services, montana cdc is a community development entity (cde) and eligible to make new market tax credit enhanced loans through limited liability companies in which montana cdc is the managing member. these entitys missions are to provide loans to qualified businesses in low-income communities. our primary service areas are the states of montana and idaho. montana cdc is an equal opportunity lender and employer.”.
When referring to its tasks, they were referred to as: “Provide financing and consulting services that transform the lives of individuals and strengthen community prosperity.”.
- The non-profit's state of operation has been legally reported as MT.
- According to the latest filing, the non-profit's address in 2019 is 229 EAST MAIN STREET, MISSOULA, MT, 59802.
- The total number of employees reported by the non-profit on their form for 2019 is 40.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,800,412.
- The organization has 8 independent voting members.
- The organization was formed in 1995.
- The organization pays $3,148,579 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.